Optimization of pack size, the increasing focus on reusing materials, expansion of different end-user industries and associated increasing demand

NEW YORK, NY, UNITED STATES, September 24, 2021 /EINPresswire.com/ -- The global returnable packaging market is forecast to reach USD 59.24 Billion by 2026, according to a new report by Reports and Data. Integration of various returnable packaging market factors is supporting the growth of the market. The expansion of transportation & logistics industry and packaging sector has played a pivotal role in increasing the demand for this type of packaging. The underlying reason being, in these industries, the effective disperse of the packaged goods, without it being damaged is essential. The market is also benefited by the expansion of the e-commerce sector across different parts of the globe. For the operation of this sector, protection of the packaged good from being tampered or damaged is crucial, which increases the relevance of this packaging in the industry.

In addition to that, the availability of this type of packaging in different materials for varying handling and transportation purposes acts as a major attraction for end-user industries. Usually, this packaging is foldable in nature that helps in minimizing return shipments costs. The packaging also has the scope of customizing inner packaging for reaffirming protection of the packaged goods.

In context of region, Asia Pacific is projected to witness the fastest growth rate during the forecast period. The rising application of packaging in expanding end-user industries like healthcare sector, food & beverages industry, and rising demand for partial sustainable packaging are some of the factors spurring the growth of the market in this region.

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Further key findings from the report suggest:

The returnable packaging market held a market share of USD 37.00 Billion in the year 2018. It is projected to witness a growth rate of 5.9% during the forecast period.

In regards to Raw Material, the Plastic segment is leading the market that yielded the highest revenue of USD 13.32 Billion in 2018 with the fastest CAGR of 6.6% during the forecast period. Its traits like water-resistance, easy availability, reusability and chemical resistance, which has resulted in making it an ideal choice as a raw material for the packaging are contributing to the revenue generated by the Plastic segment.

In regards to Type, Pallets generated the highest revenue of USD 9.99 Billion in 2018 with a growth rate of 6.2% during the forecast period. Ease of handling of goods packed in it, along with effective protection of these goods from mechanical rupture while shipping it, and the resultant high preference among end-user industries are some of the factors contributing to the revenue generated by the Pallets

In context to End-user, the automotive segment occupies the largest market share of 38.0% in 2018 with the fastest growth rate of 6.7% during the forecast period. The automotive industry is seen to use this packaging extensively due to its utility in the transportation of different automotive parts to its suppliers.

In regards to region, Asia Pacific is projected to witness the fastest growth rate of 7.1% during the forecast period which is expected to occupy the third-largest market share of 23.0% by 2026. Factors like the rising application of the packaging in expanding end-user industries like the healthcare sector, food & beverages industry, and rising demand for partial sustainable packaging are spurring the growth of the market in this region.

Key participants include Menasha Corporation, Brambles, Schoeller Allibert, Myers Industries, DS Smith, Rehrig Pacific Company, Nefab Group, IPL Plastics, Vetropack Holding, Schütz GmbH & Co. KGaA.

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For the purpose of this report, Reports and Data have segmented the global returnable packaging market according to Raw Materials, Type, End-user, and Region:

Raw Materials Type Outlook (Volume, Thousand Units; Revenue, USD Billion; 2016-2026)

Metal

Plastic

Glass

Wood

Foam

Type Outlook (Volume, Thousand Units; Revenue, USD Billion; 2016-2026)

Crates

Pallets

Dunnage

Intermediate Bulk Containers (IBC)

Bottles

Drums & Barrels

Others

End-user Type Outlook (Volume, Thousand Units; Revenue, USD Billion; 2016-2026)

Food & Beverages

Automotive

Healthcare

Consumer Durables

Others

Regional Outlook (Volume, Thousand Units; Revenue, USD Billion; 2016-2026)

North America

Europe

Asia Pacific

Latin America

MEA

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Table of Content:

Chapter 1. Market Synopsis

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technology

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. Returnable Packaging Market Segmentation & Impact Analysis

4.1. Returnable Packaging Market Segmentation Analysis

4.2. Industrial Outlook

4.2.1. Market indicators analysis

Continued…

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Tushar Rajput
Reports and Data
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